NEW DELHI: Indian Gas Exchange (IGX) recorded a June trading volume of 4 million mmBtu - a decline of 8 per cent year-on-year and 14 per cent month-on-month - as early monsoon rains dampened gas demand from the power sector.
Gas prices softened as well, with the Gas IndeX of India (GIXI) averaging Rs989 ($11.5/mmBtu) - down 7 per cent year-on-year and 3 per cent from May - despite rising international benchmarks amid the Iran–Israel conflict. However, the overarching trend remains encouraging.
For the April–June quarter, IGX traded a total of 24.5 million mmBtu - an impressive 109 per cent year-on-year jump - as liquidity surged through April and May.
Significantly, IGX celebrated its first-ever trade in a six-month Long Duration Contract, marking a key milestone in its market evolution.
In June alone, the exchange executed 130 transactions across 21 delivery points, spanning intraday, day-ahead, weekly, and long-duration contracts.
